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“Tunisie Telecom” confirm its intention to proceed with a voluntary offer to all shareholders of Go

Further to the announcement issued by Go p.l.c. (“Go” or the “Company”) on May 23 (the “Announcement”) with regard to the selection of  Tunisie Telecom as the final preferred bidder for the Company’s shares,  Tunisie Telecom wishes to confirm its intention to proceed with a voluntary offer (the “Voluntary Bid”) to all shareholders of Go at a price of  2.87 euros a share as required and in compliance with Chapter 11 of the Listing Rules issued by the Malta Financial Services Authority. This will give the option to all shareholders to dispose of their shares in Go, if they wish to do so  as per the terms and conditions that will be set out in an offer document to be issued by Tunisie Telecom within 21 days from the Announcement.

As per the May 24 announcement, Emirates International Telecommunications (Malta) Limited, which is the registered holder of 60,786,292 shares in the Company (representing 60% of the issued share capital of the Company) has, subject to certain conditions, irrevocably undertaken to accept the Voluntary Bid with respect to its shareholding in the Company.

At the same time, Tunisie Telecom wishes to clarify, that it intends to maintain Go’s current status as a publicly listed company with shares traded on the Maltese stock exchange as far as it remains in compliance with the Listing Rules. As such, it will not be actively seeking to reach the thresholds stipulated for a mandatory squeeze out nor the related implementation of de-listing mechanics.
Further details on the timetable, terms and conditions of the offer will be made in due course.

Nizar Bouguila, Chairman and Chief Executive Officer of Tunisie Telecom, said:

“We are very excited about the opportunity this presents to create a strong trans-Mediterranean telecoms partnership which will support Go’s growth opportunities in its domestic market, while being a centre of excellence for the wider group. We believe that it is important to maintain Go as a distinct Maltese listed company with a strong local shareholder base in order to continue to benefit from the strong public and customer support that is vital for Go to continue to thrive and grow.”

This announcement does not constitute a formal binding voluntary bid under Chapter 11 of the Listing Rules issued by the Malta Financial Services Authority.

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